The Lord Mayor's Show fireworks in London in 2014 (Image: Wikimedia Commons / Matt Buck)

It's one of London's great historic traditions and a hugely popular event in the City calendar.

But City leaders are set to decide by March whether to permanently scrap the Lord Mayor's annual fireworks show over counter-terror security concerns.

Gridlock in central London caused by crowds and road closures meant the fireworks display not only faced security risks - it was unpopular with neighbouring local authorities and transport bosses too, leaders were told on Tuesday (February 26).

"High profile, mass spectator events designed to draw large scale, predictable crowds at defined times to London’s Thames bridges require a significant degree of protection to mitigate the risk of terrorist attack," a report to the streets and walkways subcommittee warned.

The show represents an annual day of medieval pageantry for the City, with each newly-elected Lord Mayor rowing, riding or marching through the district in a tradition still going after 800 years.

Participants of the Lord Mayor's Show parade down Ludgate Hill on November 12, 2016 - its 801st year

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But a flip-flop in mid-2018 saw the Corporation declare the fireworks saved, then scrapped again as concerns were raised over the level of disruption.

The decision to cancel the fireworks was said to have caused grumbles at the City last year, when it came just months after a decision to scrap the show’s traditional river pageant along the Thames too.

"Let’s not have a long, long debate. Let's not have any fireworks," chairman Chris Hayward told Tuesday's committee as they gathered to hear the latest proposals.

The threat to cut the £125,000-a-year fireworks display has hung over the show since 2017's terror attacks on Borough Market and Manchester Arena.

Lord Mayor of the City of London Peter Estlin, pictured with his wife, Lindy (Image: Julia Gregory)

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That year's show was nearly cancelled last-minute, then went ahead, requiring significant crowd safety, traffic and counter-terror management by police.

The free after-show fireworks are fired from a barge stationed between Blackfriars and Waterloo Bridges, with spectators usually gathering on Victoria Embankment, Blackfriars Bridge, the South Bank and Waterloo Bridge.

Westminster City Council and TfL had earlier told the City the level of security and disruption caused were not worthwhile when the international attraction of London's New Year's Eve fireworks followed only a month later.

Councilman Hayward told the committee it was unlikely the City would be able to convince them to allow the road closures needed to stage the fireworks again for the November 9 show.

New Year's Eve fireworks in central London (Image: PA)

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"Whether we like it or not - without their support it’s just not going to be practical," he said. The long-planned artists' Illuminated River Project set to light up the Millennium, Southwark, London and Cannon Rail Bridges over the River Thames from July has been presented as one alternative to the fireworks.

Fifteen bridges over the Thames are set to be illuminated by 2022, finishing with Tower Bridge.

The new proposal is to use the illuminated bridges to create a light display following the Lord Mayor's Show and hold a celebration event at Tower Bridge, in place of the pyrotechnics.

It is expected such a light display could be delivered within the existing fireworks budget in time for this year's show, if the Illuminated River Foundation is on board, the committee papers said.

A series of committees will see the proposal before a final decision is made March.